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1. Banks won’t be obsolete as Nations, Governments, and Conglomerates need them but they are, at least in the US, already, merely utilities. But for individuals, DBA’s, and small and mid companies banks are mostly just in the way. 50 percent, it is said, of the world is middle men, the profit is in being in the middle, or if you’re on either end, cutting the middle man out. We don’t need the banks. If you want paper exposure to the banks replacement I would recommend an FinTech ETF because, as is the case when whole new industries are born, many companies within that industry won’t be around in 10 years, but, and it’s very hard to tell which ones, some will. Like the Dot Com boom and bust FinTech will likely have a similar cycle. All new industries go through what some call, the S-curve of maturity which starts with go-go aspirations and then a major washout from which the survivors are born as the new giants still in infancy. Think Microsoft, Cisco, Oracle, Apple which all survived the Dot Com bust. The one I use is ARKF, but do your own research and as JWR says, it’s paper, so keep your exposure as a small and manageable percent of your total investment strategy. I maintain that this is a generational opportunity as was tech in the 90’s, or cars and electricity 100 years ago, and trains in the 1800’s.

   As to Libra, the article at Lew Rockwell is good but they seem confused by the intent of bookface. That company has no intent to keep transactions private, but rather quiet the opposite. It’s design is to record every transaction by every person to the penny, all made available to governments, if not advertisers and other companies. We should all know this by now, right? But I suppose some can pretend to be surprised when the “news” comes out that Libra is merely a record of everything you do, which is what the greater bookface is, is it not? Sure put your address, pics of your children, and use Libra on bookface, if you’re not exactly bright.

   The DB exit of equities is part of the ‘turn around’ strategy but that doesn’t mean that it’s a good thing as an investable opportunity.

2. (InYour)Facebook and their scheme to start their own crypto-currency won’t lead to the demise of Banks, it will lead to the demise of (InYour)Facebook, which could only be something good.

3. Re: Scarcity

   Two opposing thoughts.

   We have already seen some problems with helium where I work. Not drastic but it is a real issue making us reexamine how to do certain things.

   Thomas Sowell in Basic Economics dispells resource shortages pretty effectively. Basically as a resource becomes more scarce it becomes more expensive. As it becomes more expensive it becomes more cost effective to find more of it or recycle it or process lower grades of it or replace it which then alleviates the Scarcity driving costs back down. He cites oil, copper and other resources as examples and his predictions seem pretty accurate.

   In other words, people learn and adapt.

   1. Economics, as with all science, is simply the observation of God’s creation and/or His creator order. It used to be that in economics one would study, through observation, exactly what you describe from the Sowell book that I too have read. Now Economics is the manipulation of markets to offload risk to the peasants and maximize profit to the controllers. They are without God so they know not the proper role of science and have instituted what the Holy Bible says is; Science falsely so called. And I offer as further evidence the Global Warming hoax.

      That’s a great book, I strongly recommend it. The part about the NYC rent controlled market is the perfect illustration and worth the cost of admission to attain the entire book.

4. Corn prices are skyrocketing? Then let’s end the ethanol scam.

5. Re:RV’s and recession indicators,I have used another rv as a indicator, boats. The weather reports from Chicago all like to use a backdrop of the waterfront and Monroe harbor. I was frightened seeing that the harbor has a massive decrease in use, a couple years ago there was a waiting list but this year only half the moorings are in the water and many of them are empty. Sail boats are a high maintenance rv with a shorter season and very sensitive to economic conditions and this is a real swing in economic sentiment. In the articles comments was a storage owner who was profitable but that just underscores the utilization factor(if not being used it is parked. May soon be a buyers market to pick up a rolling BOL.

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